Households in Great Britain face 4% rise in energy bills to average of £1,723 from October – business live
Gas and electricity bills rise by £60 on average to highest level in three years Experts at MoneySuperMarket Energy are urging people to fix their energy prices. They argue that while the temporary VAT cut will save households money on their bills, wholesale energy prices themselves are still turbulent including oil. Industry analysts predict the price cap will climb again by as much as 10% in…
Households in Great Britain are bracing for a 4% increase in their energy bills, with the average bill set to rise to £1,723 from October, according to a report by business live. Gas and electricity prices have climbed by £60 on average, marking the highest level in three years. Experts from MoneySuperMarket Energy are advising consumers to consider fixing their energy prices.
Although a temporary VAT reduction will provide some relief, industry analysts predict the price cap could rise by up to 10% in January 2027. This is due to rising wholesale costs linked to global developments being passed onto consumers. Despite the modest 3.6% rise appearing insignificant, it will amount to around £60 extra on the typical household's energy bill, effectively erasing the benefits of the VAT cut.
For millions of households already struggling, this additional £60 could mean the difference between keeping up with their bills and falling behind. The report urges the government to provide targeted support for vulnerable households, suggesting an energy social tariff similar to those available for water bills could help protect those who cannot afford further increases.
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